Needham & Company LLC Begins Coverage on Deckers Outdoor (NYSE:DECK)

Research analysts at Needham & Company LLC initiated coverage on shares of Deckers Outdoor (NYSE:DECK) in a research report issued on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $218.00 price target on the textile maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 20.14% from the stock’s current price.

DECK has been the topic of several other reports. Wells Fargo & Company raised their target price on Deckers Outdoor from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. StockNews.com cut Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Stifel Nicolaus raised their target price on Deckers Outdoor from $147.83 to $181.00 and gave the company a “hold” rating in a research report on Friday, October 25th. BTIG Research cut Deckers Outdoor from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. Finally, UBS Group increased their price target on Deckers Outdoor from $226.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.53.

Deckers Outdoor Trading Up 2.9 %

Shares of Deckers Outdoor stock opened at $181.46 on Friday. The business’s 50 day simple moving average is $157.41 and its 200-day simple moving average is $72.04. The stock has a market capitalization of $27.57 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.47 and a beta of 1.05. Deckers Outdoor has a twelve month low of $105.09 and a twelve month high of $184.48.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the firm earned $1.14 EPS. The business’s quarterly revenue was up 20.1% on a year-over-year basis. Sell-side analysts predict that Deckers Outdoor will post 5.48 earnings per share for the current year.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, insider Thomas Garcia sold 18,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $175.28, for a total value of $3,155,040.00. Following the completion of the sale, the insider now owns 63,642 shares of the company’s stock, valued at $11,155,169.76. The trade was a 22.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Powers sold 140,832 shares of Deckers Outdoor stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $23.97, for a total value of $3,376,368.96. Following the completion of the transaction, the director now owns 2,450,808 shares in the company, valued at $58,756,760.24. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,110 shares of company stock valued at $14,028,140. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Deckers Outdoor

Institutional investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. increased its stake in Deckers Outdoor by 16.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 14,502 shares of the textile maker’s stock valued at $13,650,000 after acquiring an additional 2,031 shares during the period. Redwood Investment Management LLC bought a new position in Deckers Outdoor during the first quarter valued at about $1,548,000. Advisors Asset Management Inc. increased its stake in Deckers Outdoor by 117.6% during the first quarter. Advisors Asset Management Inc. now owns 1,499 shares of the textile maker’s stock valued at $1,411,000 after acquiring an additional 810 shares during the period. Caxton Associates LP bought a new position in Deckers Outdoor during the first quarter valued at about $553,000. Finally, Meiji Yasuda Life Insurance Co increased its stake in Deckers Outdoor by 57.4% during the first quarter. Meiji Yasuda Life Insurance Co now owns 477 shares of the textile maker’s stock valued at $449,000 after acquiring an additional 174 shares during the period. 97.79% of the stock is currently owned by institutional investors.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.